Correcting a mistake in EOFY STP report for 20/21

Peter_10767167

Hi Rav,

My accountant has alerted me to an issue with my 2020/21 STP submission. (Yes I'm late getting the return done for 20/21)

This was done in the old STP only app from Reckon, so no Pay Runs exist for it. After analysis it appears there was a double up in my earnings figure on one month, but the STP entry for that month shows the correct figure for Wages, tax/super. The Year to date figures show the wrong figure for Gross Wages, and this figure needs adjusting.

To resolve this, do I create another EOFY Report for 20/21 entering the correct figures and resubmit it? or is there another process?

Thanks in advance !

Rav

Hi there Peter

The Year to date figures show the wrong figure for Gross Wages, and this figure needs adjusting.

Just in regard to the above, are you looking at the 'Year to Date' balances in the 2020/21 Pay Summary section for an employee in the app?

If so, tap on the 'View and update initial YTD balances' option at the bottom of that page then tap on FY2020/21. You'll see a list of pay items such as earnings, tax super etc and their respective total balances for the employee over the financial year. This will reflect the total balances that have been migrated over from the former STP app for this employee.

You can amend any of the total balances here by tapping on it. Once you've corrected the necessary balances, you'll need to create and send through a new End of Financial Year finalisation for 2020/21 so that the changes are reflected at the ATO's end and also in your MyGov account. You will however need to create at least ONE pay run in the Payroll App for the respective financial year in order to create and send an EOFY finalisation.